The Match Group Q2 Financial Results: Revenue Up 19%, Paid Subscribers Up 18%

IAC - July 29 - The Match Group revenue increased 19% to $254.7M. Operating income is down 16%. The number of paid subscribers grew 18% YOY globally to ~4.1M. Tinder was the major contributor. It is interesting to note that Tinder has more paying subscribers outside of North America. The Match Group international paid subscribers grew 34% YOY. On July 14, 2015, Match announced the acquisition of PlentyOfFish for $575M in cash. Gregg Blatt, Chairman of Match Group, disclosed that IAC paid about 13 times EBITDA.

BUSINESS WIRE - July 30 - Mobile revenue which represents 75% of total revenue was $8.3M, up 47% YOY. Total revenue was $11.1M, up 4% YOY. Net income was $1.2M compared to a net loss of $1.4M in Q2 2014. MeetMe total mobile monthly users increased 42% YOY. MeetMe is a social discovery and chat service. 80% of traffic comes from mobile.

TELECOMPAPER - July 29 - French data protection agency CNIL has served notice to eight dating sites including Meetic, Attractive World, AdopteUnMec, Easyflirt, Rencontre and Mektoube after an investigation revealed a number of breaches of privacy. The sites did not ask for permission to collect sensitive data.

BUSINESS WIRE - July 27 - eHarmony has moved from Santa Monica to Los Angeles to accommodate the record growth. Following the return of founder Dr. Neil Clark Warren as CEO, eHarmony has reached ~66M users.

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Tinder Could Be Worth Up To $3 Billion

BUSINESS INSIDER - July 31 - In June, IAC announced that it would pursue an IPO for less than 20% of common stock of The Match Group which includes Tinder, Match, OKCupid as well as The Princeton Review. Analysts at Bank of America Merrill Lynch valued Tinder at $1.35B. But using the average of peer subscription services, BAML says a bullish scenario could result in Tinder revenue of $250M and a $3B valuation. They estimated a value of $27 per user for the app's 50M users — thus leading to a valuation of $1.35B. However, they added that this estimate is below the $33 per user Facebook paid for Instagram, and the $42 per user they paid for WhatsApp. Analysts at Oppenheimer estimated that Tinder’s US paid user base grew 80% from Q1, while it’s international paid users grew 70%. Tinder could have ~500K paid subscribers.

DNAINFO - July 30 - Dating app Cheekd now wants to connect people who walk past each other in real life. Users will be automatically notified if someone else within 30 feet of them also has the app. If they like their profiles, they can "get cheeky", which means express interest in each other. CEO Lori Cheek started working on the project years ago. She went on ABC's "Shark Tank" show to pitch an earlier version of the app, where users handed out cards to people they were interested in. None of the sharks wanted to invest $100K in the company, but Cheek ended up raising more from other sources. That's when she started revamping the idea.

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Parship Re-launched Its Social Discovery App One2like

PRESS RELEASE - July 24 - Parship has relaunched its social discovery app One2like as a chat, flirt and dating community. One2like app is for users who are looking for a date, life partner or just a new friend.

BIV.COM - July 25 - Last year POF was ordered to pay $48K fine for violating Canada’s Anti-Spam Legislation (CASL). The Canadian Radio-television and Telecommunications Commission (CRTC) alleged POF was sending emails to members without a proper unsubscribe button.

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